Finance Minister Swarnim Wagle Takes Charge as AIIB Vice Chair
Summary
Nepal has been चुosen for a one-year term as Vice Chair for the non-regional member countries of the Asian Infrastructure Investment Bank. Finance Minister Dr. Swarnim Wagle took charge on Nepal’s behalf in Doha and called for more flexible financing to support roads, electricity and technology in developing countries.
Key Points
- Nepal has been selected for a one-year term as Vice Chair for the non-regional member countries of the Asian Infrastructure Investment Bank (AIIB).
- The decision was made at the bank’s 11th Annual Meeting of the Board of Governors in Doha, Qatar, with Ireland also named a Vice Chair for the non-regional group.
- Finance Minister Dr. Swarnim Wagle formally assumed the role and stressed the need for flexible financing for lower-income countries.
- Wagle said basic infrastructure such as roads, electricity and technology is essential for economic growth and private investment in developing nations.
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